Home mortgage services and loan descriptions
There are so many mortgage services and products in today's marketplace. Figuring out one that is right for you can be a confusing and difficult process. It is our job to help you find what program is the right fit for your financial situation. We hope that the descriptions we have provided here can offer some help. If you find you have more questions, please call us at Equity Source Mortgage, 763-657-2000. We are here to help answer your questions.
Federal Housing Administration (FHA) Loans
With a small down payment, buyers can purchase a home. FHA loans make it easier for people to qualify for a mortgage, but they're not for everybody.
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Veterans Affairs (VA) Loans
The main purpose of the VA home loan program is to help veterans purchase, refinance, or builds homes through VA-approved lenders.
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Loan Refinancing
Think about your long term goals. Why are you refinancing? Will refinancing help you save more money month to month? Do the benefits outweigh some pitfalls?
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FHA 203K Rehab Loans
A very popular loan that many people use to fix up houses. With a 203k loan, you get access to a government-backed loan program to get the money you need.
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USDA Rural Development Home Loans
USDA Rural Development home loan offers qualified borrowers a chance to obtain a home loan with easier qualifications and financing options...
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First Time Home Buyers Loans
The purchase of your first home is a big deal. Sometimes people use this type of loan to help them over the money hurdle. There are different programs and isn't a "one size fits all" option.
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Zero Down Home Loan Programs
Are you in a situation where you have little money to put down on a new home? This option might be a solution for you. Not everyone is eligible for this program.
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Investment Property Loans
Some people wish to have investment properties. While they are not for everyone, some they are a perfect fit. Find out if it is right for you.
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New Construction Loans
Would you rather build your home than purchase an existing property? Sounds exciting! Find out what is involved to make the best decision possible.
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Home Style Renovation Loans
Have you been home shopping, saw a home that would be great if you could change a few things, or like where you live and want to make your home more functional? Home Style Renovation Mortgage might be your solution. Find out more.
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No-Fee Refinance
Looking to lower your monthly payment? Find out more how this option might work for you.
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Refinance Contracts for Deed and Rent to Own
Wish to move your situation to a traditional mortgage? You may be ready. Find out more.
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Home Equity Loans
Need to leverage the equity in your home? There are a couple of options that might work. Each borrower's situation is different so figuring out what you can do requires more research.
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HARP Loans
HARP goals are to help homeowners whose home value fell close to or below their mortgage balance following the collapse of the housing market in 2008. This option allows you to refinance to a more stable and affordable mortgage.
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Conventional Home Loans
Conventional loans in general are a more flexible loan to fit your needs. Most have fixed rates and allow you to refinance if rates decrease. Not everyone qualifies for this type of loan. Find out more.
Learn MoreNews from Our Blog
Refinacing numbers drop, fixed rates rose, home price growth to moderate and add to inflation
Jul 21, 2021Home borrowing costs were essentially unchanged last week and remain at historically low levels. The Mortgage Bankers Association reports that the 30-year fixed-rate mortgage rose two basis points to 3.11% with 0.43 in points for the week ending July 16, …[more]
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